Japan emerges as a precedent-setting nation by passing stablecoin regulation in the wake of the TerraUSD collapse. Source
Japan Passes Landmark Stablecoin Bill For Investor Protection: Report
Tag: Stablecoin
Tron Becomes Third-Largest Defi Blockchain Following the Launch of $USDD, Its Algorithmic Stablecoin
The Tron blockchain saw a sharp rise following the public release of $USDD, the project’s new algorithmic stablecoin. Tron boasts a massive +41.68% increase this month, with a +13.30% rise over the past week. This massive increase has seen Tron become the third-largest blockchain in terms of total value locked (TVL). Only two other chains lead Tron in terms of TVL, the popular Binance’s BNB Chain and Ethereum. BNB Chain has about $8.8 billion in TVL at a 7.95% share, with Ethereum having $71.22 billion at a 64.27% dominance by…
Beanstalk Stablecoin Protocol ‘Barn Raise’ Aims to Restore $77M in Lost Funds
As part of the fundraiser, Beanstalk will also launch a 10,000-item non-fungible token (NFT) series, The Barn Raise NFT Collection, which will be made available to the first participants contributing at least 1,000 USDC before the protocol’s relaunch. Source
Undercollateralized USDN Stablecoin Needs Tweaking, Waves Founder Says
Ivanov was asked how Waves was different from Terra, whose UST algorithmic stablecoin and luna token crashed in May, wiping out $60 billion in market value. Neutrino’s protocol has “similar mechanics” to Terra, “but (is) different,” he said, citing restrictions on how many redemptions users can get in one day. Source
UK government proposes additional safeguards against stablecoin failure risks
In a new consultation paper published on Tuesday, the Treasury of the United Kingdom proposed a new set of regulatory changes for the stablecoin industry. In its report, the Treasury highlighted the importance of stablecoins in innovation but also noted their ability to impact financial stability should systemic failures occur. Specifically, the Treasury called for: The appointment of the country’s Financial Market Infrastructure Special Administration Regime (FMI SAR) as the primary entity to address the potential systemic failure of digital settlement asset (DSA) firms. DSAs include, but are not limited…
UK Government Proposes Stablecoin Safeguards After Terra Collapse
The U.K. government has published a consultation paper that proposes a series of safeguards to protect investors against the risk of stablecoins. Source
Tron Now Commands the Third-Largest TVL in Defi — Network’s Stablecoin USDD Confronted by Skepticism – Defi Bitcoin News
This week the Tron blockchain has become the third-largest network in terms of total value locked (TVL) in decentralized finance (defi) protocols. Interestingly, 48.19% of the TVL is held by the defi protocol Justlend, an application that’s similar to Anchor Protocol as it offers more than 20% APY for USDD deposits. Amid Tron’s TVL rising, the network’s stablecoin USDD has been confronted by skeptics over the similarities USDD holds with Terra’s UST. Tron Takes the Third-Largest Position in Terms of Total Value Locked in Decentralized Finance Protocols On May 30,…
DAI Takes the Reigns as the Leading Decentralized Stablecoin by Market Capitalization – Altcoins Bitcoin News
Following the demise of the Terra-based stablecoin UST, the fiat-pegged token DAI has become the largest decentralized stablecoin in existence today. Moreover, Makerdao has regained the decentralized finance (defi) protocol’s position as the top defi protocol in terms of total value locked (TVL). Makerdao’s DAI Regains the Top Decentralized Stablecoin Position This month, it’s quite clear that the Terra LUNA and UST fallout has rippled across defi and the crypto ecosystem in general. Furthermore, the Terra implosion has allowed the stablecoin DAI to regain its position as the largest decentralized…
Tether Launches on Polygon, USDT Stablecoin Now Hosted on 11 Blockchain Networks – Altcoins Bitcoin News
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original
Tether Joins the Polygon Network with Introduction of its Stablecoin
Tether has further stretched the company’s reach and influence with the introduction of a dollar-pegged stablecoin (USDT) on the Polygon Network, a deal that extended the stablecoin to over 11 blockchain networks. Through its relationship with Tether, the Polygon ecosystem is expected to have a stable currency for investors, which will help generate yield in and out of the network. This will all be achieved through the integration of Tether’s stablecoin USDT, which is tied to 1:1 to the U.S. dollar and has a market capitalization of about $73 billion.…